Caterpillar, Inc. (NYSE:CAT) was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday. The brokerage presently has a $109.02 target price on the stock. Vetr‘s price target points to a potential upside of 13.20% from the stock’s previous close.
Several other equities analysts also recently commented on the stock. Evercore ISI upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday. Barclays PLC raised shares of Caterpillar from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $100.00 to $110.00 in a research report on Tuesday, February 7th. Credit Suisse Group cut shares of Caterpillar to a “buy” rating in a research report on Friday, January 27th. Jefferies Group LLC reaffirmed a “hold” rating and set a $85.00 price objective on shares of Caterpillar in a research report on Friday, January 27th. Finally, RBC Capital Markets reaffirmed a “hold” rating and set a $85.00 price objective (up from $82.00) on shares of Caterpillar in a research report on Friday, January 27th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $87.58.
Caterpillar (NYSE:CAT) opened at 96.31 on Monday. Caterpillar has a 52-week low of $63.07 and a 52-week high of $99.46. The firm’s market capitalization is $56.42 billion. The company has a 50 day moving average price of $94.39 and a 200 day moving average price of $88.77.
Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Thursday, January 26th. The company reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.17. The business earned $9.57 billion during the quarter, compared to the consensus estimate of $9.87 billion. Caterpillar had a negative net margin of 0.17% and a positive return on equity of 13.44%. The company’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 earnings per share. On average, equities analysts forecast that Caterpillar will post $3.07 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, February 18th. Shareholders of record on Friday, January 20th will be paid a dividend of $0.77 per share. The ex-dividend date is Wednesday, January 18th. This represents a $3.08 dividend on an annualized basis and a yield of 3.20%. Caterpillar’s dividend payout ratio (DPR) is -2,369.23%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Elkfork Partners LLC acquired a new position in Caterpillar during the fourth quarter worth about $943,000. Cypress Capital Management LLC acquired a new position in Caterpillar during the fourth quarter worth about $381,000. Frontier Wealth Management LLC increased its position in Caterpillar by 1.6% in the fourth quarter. Frontier Wealth Management LLC now owns 6,318 shares of the company’s stock worth $586,000 after buying an additional 100 shares during the last quarter. Perennial Advisors LLC acquired a new position in Caterpillar during the fourth quarter worth about $728,000. Finally, Amtrust Financial Services Inc. acquired a new position in Caterpillar during the fourth quarter worth about $1,179,000. Institutional investors own 70.88% of the company’s stock.
Caterpillar Company Profile
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
To view Vetr’s full report, visit Vetr’s official website.
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